Tinubu takes over Nigerian presidency amid struggling economy

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Bola Tinubu has been inaugurated as the 16th President of Nigeria, taking over from Muhammadu Buhari for the next four years.

He was inaugurated at a ceremony in Abuja which was attended by dignitaries from around the world. The president however will be faced with fixing a struggling economy and tackling rising insecurity.

President Tinubu took the oath of office just over three months after he was declared winner of a tightly contested election in February. In his Inaugural speech, he said he does not take the new mandate lightly and plans to leave Nigeria in a better place than it begins his presidency.

The President announced an end to a subsidy for petrol – but says this controversial move will allow spending on infrastructure and other areas that can strengthen the economy.

He has also promised to create jobs, improve the manufacturing sector, reduce dependence on imports, attract foreign investors and ensure a unified exchange rate between the country’s naira and other currencies.

Bola Tinubu pledges economic reform as he takes top seat in Nigeria;

President Tinubu insists security will be a top priority to allow the economy to thrive, saying his government will review the current security strategy, invest in security personnel, better training and welfare of personnel.

His win in the February 25, 2023 elections is being contested in court by opposition candidates who say there were irregularities in the election process and results manipulated. But the outcome could take weeks and it could go to the supreme court.

He maintains he won the election fairly.

Nigeria’s new President is expected to announce key positions for his cabinet and administration in the coming days and weeks. -Reporting by Ajeck Mangut

Inauguration of Bola Tinubu as Nigeria’s president despite opposition court challenge